What’s The Future Of Political Memes As Donald Trump Wins Election?

Share This Post

Donald Trump Wins U.S. Election, Polymarket Bettor Scores Massive $11M Profit

The post What’s The Future Of Political Memes As Donald Trump Wins Election? appeared first on Coinpedia Fintech News

Donald Trump officially wins the U.S. Presidential election 2024! Following this, the cryptocurrency market has recorded a significant uptrend in valuation. However, uncertainty looms over the Political meme category as top tokens lose ~50% in valuation today.

With a sharp correction in the Political memes category, is this a crucial time to hold these tokens? In this article, we have covered the market sentiments and possible price analysis of the top 3 Trump-based tokens.

MAGA (TRUMP)

The Trump token has recorded a correction of 31.24% in the past 24 hours with a trading volume of $55.95 million. Moreover, it has plunged 37.29% over the past week and 42.86% during the past 30 days, highlighting long-term bearish sentiment.

Trump Price Analysis 06th November 2024
TradingView: TRUMP/USDT

The Moving Average Convergence Divergence (MACD) has displayed a constant red histogram with its averages showing a steady decline. Moreover, its SMA indicator records a negative crossover. This highlights increased selling pressure for the Trump-themed altcoin.

Suppose, this category regains momentum, in that case, the Trump price will retest its resistance level of $3.75. However, an increase in the bearish action could pull the price toward its crucial support level of $1.50.

MAGA (MAGA)

The MAGA coin price has recorded a major hit by losing ~50% of its value within the past few hours. With a 24-hour trading volume of $88.38 million, this project is currently valued at $42.441 million.

MAGA Price Analysis 06th November 2024
TradingView: MAGA/USDT

The Relative Strength Index (RSI) shows a sharp downtrend toward the oversold range with its average trendline constantly acting as a resistance to the MAGA price chart. This suggests a negative outlook for the altcoin in the coming time.

If the bears continue dominating the market, the MAGA coin price may retest its low of $0.000011250. On the other hand, if a trend reversal occurs, this altcoin may retest its upper high of $0.000185.

Super Trump Coin (STRUMP)

With a drop of ~21% within the past 60 minutes, the STRUMP price has plunged 48.64% in the past 24 hours. Further, it has lost 55.24% over the past week and 50.73% during the past 30 days.

STrump Price Analysis 06th November 2024
TradingView: STRUMP/USDT

The Simple Moving Average (SMA) constantly acts as a resistance to the Super Trump coin price chart. Moreover, the MACD indicator has experienced a strong red histogram. This indicates that the altcoin may continue losing value.

If the bulls regain momentum, the STRUMP price may retest its resistance level of $0.0068. On the contrary, an intensified bearish action could result in it retesting its low of $0.000800.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Spot Ethereum ETFs End 6-Day Drought With $90 Million Inflow — Will Ether Price Respond?

Investor interest in the spot Ethereum ETFs (exchange-traded funds) appeared to have waned after failing to register a net inflow day for six consecutive days However, the cryptocurrency products

On-Chain Indicator Sets Bitcoin Cycle Top Price At $141K – Details

Bitcoin has experienced a record-breaking bullish breakout, shattering all-time highs almost daily over the past three weeks After an impressive rally, the price is less than 2% away from the

2021 Bull Run Déjà Vu? Altcoin Market Gains Momentum

As bitcoin catches its breath on the sidelines, a wave of digital currencies is charging ahead, making big moves Meanwhile, the infamous Altcoin Season Index is climbing, signaling exciting times for

Bitcoin Correction Looms As Analyst Predicts Fall To $85,600

The price of Bitcoin (BTC)  rose by 799% in the past week to reach a new all-time high of $99,655 on November 22 Thereafter, the maiden cryptocurrency has experienced a slight retracement in the

Ripple CEO Predicts US Crypto Boom, 76% of KOLs Shilled Worthless Meme Coins, and More — Week in Review

Ripple CEO predicts US crypto boom, study shows 76% of KOLs promoted worthless meme coins, Coinbase CEO strongly endorses DOGE, and more in this Week in Review Week in Review Ripple CEO Brad

Bitcoin Taker Buy/Sell Ratio Surges On Major Exchanges — Who Is Buying?

The price of Bitcoin has somewhat cooled off, struggling to reach the highly-coveted $100,000 mark, after an intense bullish run all week long However, investors appear to be undeterred by the